Jen and Mike had to sit down and see if the company was worth pursuing and think about what they would have to do to make it a success.

1) What are your thoughts on the potential of the company? How much money are they making? What is the potential market size?

2) How have Mike and Jen been doing to date securing customers? What are 5 (or more) specific steps you would take in their position?

3) What will happen with the addition of Boom Media? Are there any other revenue sources they could tap into in the future with this company?

Mike was exhausted. He just got home after a week-long trip to several small Ontario towns visiting bars, restaurants and night clubs regarding his new business start-up. He had some successes on the trip and managed to lock down 5 new partners willing to do business with them and 10 more likely candidates. The business had been launched about three months ago from his parent's basement with his business partner Jennifer The business was New Age Media and the idea was simple. The concept was to install bathroom stall advertisements that individual would like at while they were doing their duty. Partners such as bars, universities, city venues (essentially any place with public washrooms) would lease out advertising space to his company on bathroom doors, above urinals, etc. These advertisements would have a person's undivided attention for on average a minute. New Age Media would then find advertisers willing to lease the space for a month and install the posters. So long as a poster was present in a space, the facility would receive $15 per poster per month. New Age would keep whatever extra they sold the space for. When the company was launched no one was in this business. To date they had secured the following partners segmented by the number of ad spaces they had: Total Partners # of spaces each 10 10 10 1 100+ Mike and Jen met while studying business at University together. Jen already had a background in marketing and had intemed at Molson Canada. She was actively trying to recruit advertising firms while Mike focused on securing spaces. Their model was to sell advertisements in the amount of 300 spaces for a one-month period. Advertisers chose from a list of available locations and the cost was $10,000. Advertisers would then print the posters to the relevant size and New Age Media would ensure they were installed. The following list is a rough estimate of the size groupings in the Southern Ontario region: Partners Average # of Spaces # of Partners in Region Colleges / Universities 40 Sports Venues 100+ 20 City Organizations 1000+ Bars / Night Clubs 20 1000's Things were going well, but Mike and Jen became alarmed about hearing that another media company named "Boom Media" was going to be launching with the exact same business model. The two of them were doing well with support from potential advertisers who wanted to see more spaces, and very good feedback from their partner spaces. 20 100+ 60